New financial privacy requirements and legislation aimed at cutting workers' compensation costs are the two most significant public policy measures that impacted the property/casualty insurance industry during the 2003 California legislative session. The session ended Sept. 12, and the Legislature will reconvene on Jan. 4.
Privacy
Senate Bill 1, which takes effect July 1, 2004, establishes new financial privacy standards for insurers and other financial institutions. ACIC opposed the bill as it places restrictions on the exchange of information with affiliated companies and makes it dif...
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